An eye-opening chart posted on MarketWatch this morning shows a striking divergence between stock prices and investor exposure to them. We have to ask: if stocks are surging, but less money is chasing them, is it the new “stupid money” that’s driving Wall Street?

Maybe we just want to see it that way. We see buying Wall Street today as likely to turn into a “buy high, sell low” situation. But nothing goes up forever. It just doesn’t seem reasonable to bet on the record Wall Street bull to continue for much longer.

And what benefits when the Dow, S&P, and co. go into reverse? Not industrial metals. Maybe not real estate either, if interest rates look set to rise.

Safe haven assets like gold and silver may do far better than the mainstream expects—and far sooner.

Or not. But I’d rather buy low and sell high than the reverse, that’s for sure.